The current consolidation trend, with hundreds of smaller schemes throwing in the towel, is merely the start, he said. Berendsen, currently a senior partner at consultant Deloitte, said pension funds with less than €10bn in asset under management were unlikely to survive over the long term.“In addition, pension providers that carry out the administration for less than 100,000 participants lack the scale to keep on investing in new systems,” he said. According to Berendsen, who was involved in the division of the old-style ABP into the current pension fund and its provider APG in 2008, small improvements in the system will merely increase complexity, thereby hindering proper governance at pension funds.“We need to design a couple of basic pension plans, also accommodating the AOW, for the large sectors,” he said. “This way, the AOW could gradually be changed from pay-as-you-go to capital-funded, and would remain affordable despite the population ageing.”Berendsen said he also expected that politics would take the initiative.“The pensions sector is too busy implementing a deluge of new legislation,” he said. “Compare it with the review of the care system – that was also an initiave from politics. Although it took longer than one four-year term of Parliament, it has been completed.”Berendsen recommended a basic scheme that would be mandatory for all working people.“This would also serve the increasing number of self-employed, who are hardly accruing a pension,” he said.“For earnings of more than 150% of the average income, people should take care of a pension themselves.”The big advantage of a simple pension plan is that it is more sustainable than the current system, with its hundreds of different pension arrangements, Berendsen said.“It would cause an enormous drop in costs,” he added. “In the current system, it is very difficult to cut costs further. It would be only possible with the large-scale introduction of standardised schemes.” Average-sized pension funds are destined to disappear in the Netherlands once the smaller ones have been liquidated, according to Ton Berendsen, former member of the executive board at the €309bn civil service scheme ABP and its provider APG.Berendsen predicted only “a handful” of pension funds, including the state pension AOW, would remain, carrying out basic, mandatory pension arrangements.In an interview in financial news daily FD, he argued that the Dutch pension system’s current problems could not be solved with minor improvements.“The system must be changed to tackle problems such as the financing of the AOW, as well as the growing group of self-employed without a pension,” he said.
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>>FOLLOW THE COURIER-MAIL REAL ESTATE TEAM ON FACEBOOK<< A hardy native garden fringes 3 Mabel Street, Margate.More from newsParks and wildlife the new lust-haves post coronavirus16 hours agoNoosa’s best beachfront penthouse is about to hit the market16 hours agoThe first floor is open-plan living with kitchen, dining and living spaces framed on two sides by floor to ceiling glass windows and sliding doors which open onto a 7m long balcony. The master bedroom is off to one side. The ground floor features two bedrooms, a laundry room that at 3.7sq m is larger than the smallest bedroom, bathroom with separate toilet, living area with balcony and a carport and garage. Unrestricted views to Moreton Bay from 3 Mabel Street, MargateYOU don’t need walls to hang artwork when you can have a living panorama of Moreton Bay that only needs airbrushing when the sea breeze rustles the pine trees along Margate Beach.Claudine Sotiau and Placide Masse have built timber houses in Canada, and limestone houses in France (where they are currently visiting).They had been living at Woody Point when a termite ridden house, high on a hill in Margate, caught their attention. It was beyond renovation so they began again, employing Push Architect’s Paul Curran to design their new home in 2008.“We like minimalist, industrial looking buildings and this gave us the opportunity to build such: a breeze swept playground with wide views for two grey nomads, which is why we sell now, ten years later, being even older,’’ Ms Sotiau said. From the back deck, Moreton Bay touches the clouds.From the outside, the steel and glass effect is very dramatic with sharp angles and Aztec designs in black, white and yellow. Striking exterior accents make 3 Mabel Street, Margate a house of distinction.“The house itself is designed to park toys,” she said. “A camper van in the garage, a boat under the carport and tools in the workshop.“My favourite part is the garden entirely planted with natives. They fiercely resist the sea salt and tolerate our absences without complaints.”
Pipeline Research Council International’s (PRCI) executive assembly has approved a motion to form a subsea technical committee. The newly created technical committee (TC) will be dedicated to solving the challenges faced by subsea pipeline operators related to the design, construction, and integrity management of risers, flowlines and umbilicals.PRCI president Cliff Johnson said that, “the addition of the Subsea TC will enable PRCI to more fully support our members as the industry sees a continued growth in offshore oil and gas. We are excited by the leadership of ExxonMobil, Total, and Chevron in bringing this important area into PRCI.”The Subsea TC recently held their first meeting and confirmed their leadership team, which will be chaired by Jamey Fenske of ExxonMobil, with vice-chair support from Ludovic Assier of Total and Farzan Parsinejad of Chevron.With the creation of the Subsea TC, PRCI now has eight specific areas of research that include: compressor and pump station; corrosion; design, materials and construction; integrity and inspection; measurement; surveillance, operations and monitoring; and underground storage.
NZ Herald 21 May 2014Google now beats talking to friends for young Kiwis with emotional or health problems, a survey has found.The Colmar Brunton national survey of 403 people aged 16 to 24 found that 64 per cent of young people said Google or other websites were the most common places their peers would go to “access information about sex, drugs, alcohol, depression, stress, health, etc”.Talking to friends came a distant second on 46 per cent.The online survey of Colmar Brunton’s ‘You Say’ youth panel offered young people a list of 24 health and social issues and asked which were “the biggest issues facing young people today”.Alcohol easily topped the list with 19 per cent, followed by ‘being accepted’ (12 per cent), bullying (11 per cent), self-esteem (10 per cent) and drugs (8 per cent). Ms Davis-Tana said alcohol was “a very dominant topic in the media, even on social media, and in our lives, so it’s something easy for youth to talk about”.However, when asked about a difficult time that they had been through personally, alcohol came only 12th on the list at 9 per cent. The top issues in young people’s actual lives were stress (32 per cent), self-esteem and relationships (both 28 per cent), confidence (25 per cent) and family (22 per cent).Sex rated 14 per cent, bullying and peer pressure both 13 per cent, suicide 11 per cent and drugs 7 per cent.“Things like self-esteem, suicide, peer pressure … are almost like taboo topics,” Ms Davis-Tana said.Youthline’s annual street appeal is this Friday, May 23.Cyber-age helpHow do young people access information about sex, drugs, alcohol, depression, stress, health, etc?• Google & other websites – 64 per cent• Talking to friends – 46 per cent• TV shows – 15 per cent • Magazines – 11 per cent• Talking to a family member – 5 per cent• Talking to their doctor – 3 per centSource: Colmar Brunton survey, 403 people aged 16-24.http://www.nzherald.co.nz/nz/news/article.cfm?c_id=1&objectid=11258524